A Book Review - Antifragile: Things That Gain from Disorder Book by Nassim Nicholas Taleb

To have "skin in the game" is to have incurred risk by being involved in achieving a goal. Taleb extends the definition to include any risk so that "Every captain goes down with every ship". This removes the agency problem or in other words "Situation in which the manager of a business is not the true owner, so he follows a strategy that cosmetically seems to be sound, but in a hidden way benefits him and makes him antifragile at the expense (fragility) of the true owners or society. When he is right, he collects large benefits; when he is wrong, others pay the price. Typically this problem leads to fragility, as it is easy to hide risks. It also affects politicians and academics. A major source of fragility.